LS passed Negotiable Instruments (Amendment) Bill that allows a court hearing a cheque bounce case to direct drawer- person who wrote the cheque-to pay interim compensation (within 60 days of order, up to 20% of cheque value) to person who filed complaint.
The Bill was introduced in the Lok Sabha in January, 2018.
LS passed National Council for Teacher Education (Amendment) Bill to grant recognition to institutions that are conducting teaching courses without NCTE approval. Institutions have to obtain recognition from NCTE under sec 14 of NCTE Act.
NCTE Act, 1993 enacted in 1995 & applies to all parts except J&K
Minimum yearly deposit under girl child savings scheme, Sukanya Samriddhi Yojana, has been lowered to ₹250 from ₹1,000. Interest rate is revised every quarter like other small savings schemes & PPF. For July-September quarter, the rate has been set at 8.1%
SSY was launched in January 2015 under Beti Bachao Beti Padhao
Kerala has been ranked the best-governed state for the third consecutive year by Public Affairs Centre (PAC) in its Public Affairs Index. Tamil Nadu, Telangana, Karnataka and Gujarat followed Kerala in the list. Kerala was ranked 11th in economic freedom.
PAC-releasing the index since 2016 & ranks acc to socio-eco dev.
India extended $200 million lines of credit to Rwanda as PM Narendra Modi held wide-ranging talks with President Paul Kagame & discussed measures to boost the bilateral strategic ties by strengthening cooperation in trade and agriculture sectors.
Rwanda capital: Kigali currency: Franc President: Paul Kagame
Standard Chartered Bank (SCB) has opened a credit line of Rs 3,500 crore for Vedanta to help finance the purchase of Electrosteel the second biggest bad loans resolution under the Insolvency and Bankruptcy Code (IBC).
SCB CEO: Bill Winters
Headquarters: England, United Kingdom
Iran was the 2nd biggest oil supplier to Indian state refiners between April & June replacing Saudi Arabia as companies took advantage of steeper discounts offered by Tehran. India shipped 5.67 mn tonnes of oil from country in first 3months of this year.
Iran President: Hassan Rouhani Capital: Tehran Currency: Rial
German luxury automaker BMW AG has appointed its India head Vikram Pawah as chief executive of BMW Group Australia and New Zealand with effect from 1 August. Pawah, 47, has additionally been promoted as chairman of BMW Group India.
BMW CEO- Harald Krüger
Headquarters: Munich, Germany
Nearly 2 dozen Banks & Financial Institutions, including SBI and LIC, have signed the inter-creditor agreement (ICA) framework to speed up the resolution of stressed assets which are under ₹500-crore bracket. The framework is part of the Project Sashakt.
Project Sashakt- 5-prong strategy to deal with NPA
India captain Sunil Chhetri was named by the All India Football Federation as its Player of the Year while Kamala Devi bagged the 2017 AIFF Woman Player of the Year. Anirudh Thapa had been declared the AIFF Emerging Footballer of the Year.
AIFF Founded on 23 June 1937
President: Praful Patel